MPA awards three firms S$8m in funds to defray costs of building LNG-powered vessels
In addition to this, it unveils other incentives aimed at propelling the Port of Singapore into the age of LNG bunkering
Singapore
THE Maritime and Port Authority of Singapore (MPA) on Wednesday used the Singapore International Bunkering Conference and Exhibition (SIBCON) as a platform to unveil a slew of initiatives aimed at taking Singapore's port-city into a cleaner-burning maritime future.
First off, it announced a financial incentive - S$8 million that will go into co-funding the building of ships that run on liquefied natural gas (LNG). These funds will defray the building cost for four ships, given that the MPA has set aside S$2 million for each vessel.
